Verity & Verity LLC cut its position in shares of Walmart Inc. (NYSE:WMT – Free Report) by 55.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,032 shares of the retailer’s stock after selling 3,765 shares during the quarter. Verity & Verity LLC’s holdings in Walmart were worth $477,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Carl Stuart Investment Advisor Inc. acquired a new position in Walmart during the first quarter valued at $4,210,753,000. Sageworth Trust Co grew its stake in Walmart by 2,414.3% during the 1st quarter. Sageworth Trust Co now owns 176 shares of the retailer’s stock valued at $26,000 after acquiring an additional 169 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Walmart in the 4th quarter valued at about $27,000. NewSquare Capital LLC increased its holdings in shares of Walmart by 58.3% in the 1st quarter. NewSquare Capital LLC now owns 190 shares of the retailer’s stock valued at $28,000 after purchasing an additional 70 shares during the period. Finally, First Command Advisory Services Inc. lifted its position in shares of Walmart by 387.8% in the first quarter. First Command Advisory Services Inc. now owns 200 shares of the retailer’s stock worth $29,000 after purchasing an additional 159 shares in the last quarter. 33.18% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Walmart
In related news, major shareholder Alice L. Walton sold 473,370 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $155.75, for a total value of $73,727,377.50. Following the completion of the transaction, the insider now owns 241,479,146 shares of the company’s stock, valued at $37,610,376,989.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Walmart news, major shareholder Alice L. Walton sold 473,370 shares of Walmart stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $155.75, for a total transaction of $73,727,377.50. Following the sale, the insider now directly owns 241,479,146 shares of the company’s stock, valued at $37,610,376,989.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 1,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $161.37, for a total value of $161,370.00. Following the completion of the transaction, the executive vice president now directly owns 169,735 shares of the company’s stock, valued at $27,390,136.95. The disclosure for this sale can be found here. In the last three months, insiders sold 6,493,773 shares of company stock valued at $1,005,802,298. Company insiders own 46.51% of the company’s stock.
Walmart Trading Down 0.4 %
Walmart (NYSE:WMT – Get Free Report) last released its quarterly earnings data on Thursday, August 17th. The retailer reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. The business had revenue of $161.63 billion for the quarter, compared to analysts’ expectations of $160.22 billion. Walmart had a return on equity of 21.47% and a net margin of 2.23%. Walmart’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 earnings per share. As a group, research analysts predict that Walmart Inc. will post 6.44 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Walmart from $175.00 to $190.00 in a research note on Wednesday, August 9th. Truist Financial upped their price target on shares of Walmart from $166.00 to $168.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Wells Fargo & Company increased their price objective on Walmart from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, August 18th. Citigroup boosted their target price on Walmart from $174.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Finally, Oppenheimer raised their price target on Walmart from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.51.
Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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